USD/CHF Weekly Technical Report 21-25/1/2013

The pair is still trading above top C of the suggested technical harmonic formation shown in blue, this formation might be completed at the extended target 127.2% level of the AB=CD upside harmonic Pattern shown on the graph. Trading above 0.9270 might extend the upside move, breaking 0.9200 levels worries us this week.

The trading range for this week is among key support at 0.9155 and key resistance at 0.9570.

The general trend over short term basis is to the downside stable at levels 0.9775 targeting 0.8860.

Support 0.9320 0.9300 0.9270 0.9235 0.9200

Resistance 0.9350 0.9370 0.9425 0.9465 0.9515

Recommendation Based on the charts and explanations above, our opinion is buying the pair above 0.9320 targeting 0.9370, 0.9425 then 0.9465 and stop-loss with four-hour closing below 0.9235 might be appropriate this week